13 Pros And Cons Of Medical Billing And Coding Career You Must Know

Being a part of the healthcare industry, you might have heard a lot about medical billing and coding. Even as a biller or coder itself you just know that this process helps you manage the hospital’s cash flow. But as a beginner, looking forward to making a career in this field, have you ever wondered pros and cons of medical billing and coding?

Today, we will discuss both aspects of billing and coding. This guide will provide you with the crucial information you need about this career so you can make your professional life decisions very carefully.

So read till the end to know whether to enter this career or not.

What Is Medical Billing And Coding?

Medical billers and coders make up a good part of RCM and healthcare. They both work together to receive payments and bills while optimizing the cash flow. 

A medical biller is the one who creates a bill that has to be sent to the patients. This bill first serves as a blueprint where all the treatment information is mentioned.

This helps insurance companies and patients pay the owed amount. They earn $3,800 monthly salary on an average.

On the other hand, a medical coder is the one who analyzes the treatment procedures and supplies used, converts it into a code i.e. CPT or HCPCS, and then creates a claim application.

Claim is a type of document that is sent to the insurance payers. They read the codes, convert them into medical procedures, and then make the reimbursement according to the patient’s insurance coverage.

Their salary is upto $4,000.

So both a biller and a coder are essential to get payments to the hospitals. Now let’s see what are the pros and cons of medical billing and coding.

Pros And Cons Of Medical Billing And Coding

Each career has its bright side as well as a darker side. This means you will enjoy the luxuries of any career, medical billing, and coding in our case. At the same time, you will have to bear the long-term impacts certain careers put on you. 

Let’s dive into the most considerable pros and cons of medical billing and coding that can help you make the right career choice.

Pros

1. You Are A Demand

The Bureau of Labor Statistics (BLS) projected that from 2020 – 2030 there will be 37,200 new medical billing and coding jobs.

This shows that you will be in high demand in the coming years, either as a biller or coder.

2. Don’t Have To Waste Years In Learning

One con about every career is that learning is time-taken. You have to invest proper time and resources in gaining practical knowledge to start a career. But in coding and billing, this is among the pros. 

You don’t have to waste your time here and there in lengthy courses. Instead, you can just study medical billing coding courses in a college and this takes less than a year.

So within a year, you are all set to step into your career and earn your dream income.

3. Can Learn Online

Imagine making your career while just sitting at home. Yes, medical billing and coding do offer you a wonderful opportunity to learn remotely. Access the top courses and start your journey today.

Also, the courses are not very expensive like other ones for specific skills. So you can start learning without wasting your savings.

4. Handsome Salary

Being a professional in medical billing and coding can get you a high-paying job. But as a starter as well, you will earn handsome pay which makes this career ideal for beginners.

Without practical experience, from the very start, you can earn $38,000 to $42,000 annually while the average hourly range is $18 to $21 per hour. Too much right? Learn billing and coding as soon as possible.

5. Work From Home Is Available

Today all that a candidate asks for is WFH. This has become a necessity for employees that they only go for a job that offers remote opportunity. So can billing and coding be performed remotely?

In short, yes. If you are an introverted type of person or have commute issues, many healthcare facilities do offer the chance to perform these tasks at home.

But for this, you need proper training and a grasp of the different systems hospitals utilize during medical coding and billing.

6. A Lot Of Job Opportunities

A biller or coder doesn’t only work in hospitals. They can work in a number of healthcare facilities including:

• Hospitals and Clinics
• Physician’s Offices
• Long-Term Care Facilities
• Outpatient Care Centers
• Healthcare Consulting Firms
• Insurance Companies
• Government Agencies
• Software Companies

With this wide range of facilities you can work in, just send your resume to all of them and pick the ones that offer a more favorable salary and timing.

But for average-paying jobs you need to have some following skills:

Skill	Description
Attention to Detail	Ensuring accuracy in coding and billing processes
Analytical Skills	Ability to analyze and interpret medical records and coding guidelines
Communication Skills	Clear communication with healthcare providers and insurance companies
Technical Proficiency	Familiarity with billing software and coding systems (e.g., ICD-10, CPT)
Knowledge of Medical Terminology	Understanding of medical terms and procedures
Problem-Solving Abilities	Resolving billing issues and claim denials
Time Management	Efficiently managing workload and meeting deadlines

7. Career Growth

Where some jobs just put a barrier in your learning and sometimes can put your career in danger due to outdated knowledge, medical billing and coding offer wonderful growth opportunities.

A number of healthcare regulations and new codes come up every year. So you will spend half of your time performing your work and the other half studying the laws to prevent violations.

8. Coding >> Billing

Here is a bonus pro you must know in 2024. If you are confused about which career to choose from medical billing and coding, let us tell you the secret that coding pays you more than billing. So go for medical coding.

Also, if you are going towards billing, there is no need to worry because they too earn a lot but less than coders. We hope this helps!

Cons

9. You Must Know How To Use A Computer

Being a career that requires hospital system handling, you must be able to know how to use a computer. You will have to record patients’ data, keep it maintained, and manage the statuses of all claim applications.

Following are the healthcare systems you will be using as a biller or coder:

Tool/Technology	Purpose	Example Software
Electronic Health Records (EHR)	Storing and accessing patient medical records	Epic, Cerner
Medical Billing Software	Managing billing and claims processes	Kareo, AdvancedMD
Coding Software	Assisting with accurate coding of procedures and diagnoses	3M Codefinder, TruCode
Practice Management Software	Streamlining administrative and financial operations	Athenahealth, eClinicalWorks
Data Analytics Tools	Analyzing financial and operational performance	Tableau, Power BI

10. Analytical Mind

A medical coder assigns codes to certain medical procedures. So it is your duty to analyze a medical bill, write codes, and send claim applications.

You must also perform evaluation of the applications so that you know how many claims are rejected and how much is paid.

11. Learn New Codes Regularly

Since AMA, the founder of the codes, updates their coding system regularly by deleting existing codes or adding new ones, you will have to stay updated all the time.

You must know what are the current codes, where you have to use them, and for which treatment. So learning these updates might take plenty of your time.

12. Working Involves Long Sitting

Long-sitting work is not taken as a wonderful career opportunity because it may develop some health issues in your body. Sitting for long hours can cause mild to severe back, shoulder, and neck pain. 

You can also catch Carpal Tunnel Syndrome. This is a disorder of your wrist caused due to repetitive hand movement. So take these health considerations in mind.

13. Angry Patients 

If you know the exact role of a medical biller, you will have to work closely with patients to make the bill payment process smoother. Many times when communicating with them, you may encounter some angry or impolite patients.

So here you must possess strong nerves to handle the situation better which is not everyone’s cup of tea.

A Decision-Making Guide

Here we have mentioned the pros and cons of medical billing and coding in detail. So if you are considering this career, make sure you are aware of its benefits versus the challenges ahead.

This analysis will help you decide if you should choose this career path or if it is good for you to move towards another career.

Think about it and see if you can bear these career challenges.